As one of Africa\u2019s most historic producers, TotalEnergies is continuing to prioritize integrated energy projects that span the entire value chain, with an emphasis on improved connectivity and distribution to local and regional markets. While TotalEnergies has historically been most active in the Gulf of Guinea \u2013 namely, Nigeria, Angola and the Republic of Congo \u2013 the company is expanding its focus to emerging frontiers like Mozambique, South Africa and Namibia.<\/p>\n\n\n\n
Last December, TotalEnergies announced plans to restart its $20-billion Mozambique LNG project in Q1 2024, as well as take an FID on a new LNG import terminal at the Port of Matola, which could enable the first LNG exports to South Africa upon its completion.<\/p>\n\n\n\n
In Namibia \u2013 where TotalEnergies invested half of its 2023 exploration budget \u2013 the company is currently appraising its Venus-1 discovery and made another small hydrocarbon discovery at its Mangetti-1X well earlier this month.<\/p>\n\n\n\n
\u201cThere is volatility in the oil and gas business, this has never stopped TotalEnergies deploying, and developing resources and technology to enhance optimal utilization of the resources for the benefit of the countries, the people, and the company itself,\u201d said Mathieu Bouyer, Managing Director and Chief Executive of TotalEnergies Upstream Companies in Nigeria.<\/p>\n\n\n\n
British multinational Shell is also focusing on frontier markets like Namibia \u2013 following four consecutive discoveries in the offshore Orange Basin \u2013 and plans to drill two more wells, with appraisal work currently underway.<\/p>\n\n\n\n
In more mature markets like Nigeria, the company is targeting its gas and deepwater assets, as well as exploring new technologies to reduce operational costs and enhance its competitiveness.<\/p>\n\n\n\n
Specifically, Shell Nigeria is deploying the Bonga Main Life Extension Project to extend the life of its Bonga FPSO, as well as mature several projects to deliver gas from offshore fields.<\/p>\n\n\n\n
\u201cIt has continued to be challenging doing business, but we will continue to look for innovative ways that could help to reduce cost, and also drive efficiency in our business, so it is highly competitive and we stay very relevant in the oil and gas business today to help us survive and still stand tall in spite all the challenges,\u201d said Elohor Aiboni, Managing Director of Shell Nigeria Exploration and Production Company.<\/p>\n\n\n\n
Finally, American multinational Chevron is not shying away from the continent\u2019s vast human and mineral resources potential.<\/p>\n\n\n\n
The company is seeking to forge mutually beneficial partnerships with African stakeholders to facilitate knowledge and technology exchange, develop resources more expeditiously and empower local service providers.<\/p>\n\n\n\n
Chevron represents one of the largest investors on the continent through its portfolio of large-scale projects, from launching a $1.4-billion infill drilling program in Nigeria to delivering its first LNG cargo in Equatorial Guinea to starting production at its Lifua-A project in Angola.<\/p>\n\n\n\n
The company is also a key shareholder in the West African Gas Pipeline, which delivers Nigerian gas to Benin, Togo and Ghana and plays a critical role in driving energy security in the region.<\/p>\n\n\n\n
\u201cWe believe that energy is a fundamental building block of the economies and this is important to the economic life of a country,\u201d said Michelle Pflueger, Director at Chevron Nigeria Limited.<\/p>\n\n\n\n
\u201cAs we continue to develop our partnership within Africa, we can support the people and the governments to improve their GDPs.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
As one of Africa\u2019s most historic producers, TotalEnergies is continuing to prioritize integrated energy projects that span the entire value chain, with an emphasis on improved connectivity and distribution to local and regional markets. While TotalEnergies has historically been most active in the Gulf of Guinea \u2013 namely, Nigeria, Angola and the Republic of Congo […]<\/p>\n","protected":false},"author":27983,"featured_media":38457,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_paywall_metabox":[],"jnews_override_counter":[],"footnotes":""},"categories":[101],"tags":[7819],"class_list":["post-38456","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-totalenergies"],"yoast_head":"\n